New advance loan payment with the Home Equity Access Scheme

3 June 2022

More options will be available for older Australians under the Home Equity Access Scheme.

From 1 July 2022, you can get an advance payment of your loan in addition to or instead of your fortnightly loan payments. This may reduce the fortnightly loan payment you could get for the next 26 fortnights.

A new no negative equity guarantee will apply to all current and new loans. This means you won’t repay more than the equity in the property when you repay the loan. Exceptions may apply.

Full details about these changes will be available on 1 July 2022. Learn more about the Home Equity Access Scheme.

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Page last updated: 15 June 2022